ØKB3136 Accountant Regulations, Accounting Organization and Business Understanding

Contents and structure

The course provides insight into the accountant regulations, accounting organization, and business understanding

Learning Outcome

Knowledge

The student:

• has knowledge of the rules that regulate the rights and obligations of certified accountants, including professional responsibility and ethical guidelines
• has knowledge of the accounting regulations, including the Accounting Act with regulations, good accounting practices, and anti-money laundering regulations
• is familiar with the roles and responsibilities of the board, the general manager and the auditor in a company
• is familiar with general controls and measures that contribute to effective internal control
• has knowledge of the most central business routines
• is familiar with the requirements for security and controls in IT systems
• is familiar with the requirements for accounting firm routines in accordance with the risk management regulations and privacy rules
• has knowledge to understand risk and a risk-based approach, both in clients’ and their own business, including conducting risk analyses and risk management
• is familiar with business models, including the types of agreements that can affect different business models
• has knowledge of business understanding for selected industries, including key revenue models, and can see the connection with financial statement analysis (accounting understanding)
• is familiar with the characteristics of different sectors—private, public, and nonprofit

Skills

The student:

• can discuss different roles such as auditor, advisor, controller, and accountant.
• can reflect on organizational relationships and assess measures to ensure effective internal control.
• can evaluate key business routines necessary to maintain financial control in an enterprise.
• can assess the suitability of the accounting function and organizing data capture to ensure desired quality and efficiency through good routines and internal control
• can analyze routines and internal control in accordance with COSO/COSO2 or equivalent frameworks and can propose improvement measures, including compliance with regulations and external requirements for the business
• can discuss and communicate practical issues related to the client's operationalization of accounting routines, documentation, compliance with obligations, and assessment of risk and materiality
• can analyze the impact of different industries and business types on governance and control

General Competence

The student:

• can acquire updated knowledge within the field
• can communicate key subject matter through relevant forms of expression and exchange views and experiences with other professionals
• can see the subject in a broader societal perspective

Entry requirements

Ingen

Recommended previous knowledge

BØA117 Financial accounting with analysis or similar

Teaching methods

Lectures, exercises, and guidance related to exercises

Compulsory learning activities

Three assignments

Assessment

Digital school exam 4 hrs 100%

Grades A - F

Examination support material

None (regulations booklet is attached to the exam)

More about examination support material